We have had a good period of bearish momentum. Price is currently in a correction phase. Using the trendline rules of entry, a buy position should be actively running, but because I saw signs of a pennant forming, I had to wait. The pennant has clearly formed. This chart pattern is neutral and price can go either way, which invalidates entries solely based on the trendline strategy. First/ minimum TP target should be the length of the pennant's back.
*Disclaimer*
This is not financial advice. Forex trading is a risky business. Trade at your own risk. Exercise proper risk management and be patient.
#TradeLikeMagnatrio
*Disclaimer*
This is not financial advice. Forex trading is a risky business. Trade at your own risk. Exercise proper risk management and be patient.
#TradeLikeMagnatrio